Loreauville, Louisiana Property Taxes
The median property tax rate in Loreauville, LA is 0.81%, which is lower than both the national median of 0.99% and the Louisiana state median of 0.91%. With the median home value in Loreauville at $61,820, the typical annual property tax bill amounts to $499, significantly below the national median of $2,690. Property taxes in Loreauville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Loreauville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Loreauville or another part of Iberia Parish, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Loreauville, Louisiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$501
Ownwell’s Loreauville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Loreauville using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Loreauville to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Loreauville, Louisiana
Property taxes in Loreauville, Louisiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Loreauville is 0.81%, which is below the U.S. national median of 0.99%. Local government entities within Loreauville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Loreauville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Loreauville's effective property tax rate to other areas in Louisiana and the national median. For comparison, the 70552 zip code has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with Loreauville provides valuable insights into the varying tax landscape across Iberia Parish, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Loreauville Tax Rate
0.81%
Average Iberia County Tax Rate
0.82%
Average Louisiana Tax Rate
0.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Loreauville, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70552 | 0.81% | 0.81% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Loreauville, Louisiana
In Loreauville, Louisiana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Iberia Parish Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Loreauville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Loreauville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Loreauville is $61,820, with annual tax bills ranging from $283 at the 25th percentile to $1,294 at the 90th percentile. The zip code 70552 has the highest and lowest median tax bill, both at $499.
Average Loreauville Assessed Value
$61,820
Average Iberia County Assessed Value
$68,490
Average Louisiana Assessed Value
$105,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Loreauville, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70552 | $10,978 | $35,060 | $61,820 | $109,255 | $160,158 |
Source: Ownwell
Property Tax Bills Across Loreauville, Louisiana
In Loreauville, located in Iberia Parish, LA, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined by the local assessor's office. Factors such as the home's location, size, and condition are considered in this assessment. For a median home price of $61,820, homeowners can expect varying tax bills. For instance, the 25th percentile tax bill is approximately $283, while the 75th percentile tax bill is around $882. The 90th percentile tax bill can go up to $1,294, indicating that higher-valued homes bear a larger tax burden. The median tax bill in the region is $499, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax rate can be beneficial for homeowners, making property ownership more affordable in Loreauville compared to other regions in the United States.
Average Loreauville Tax Bill
$499
Average Iberia County Tax Bill
$580
Average Louisiana Tax Bill
$865
Average United States Tax Bill
$2,690
Property Tax Bills Across Loreauville, Louisiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 70552 | $89 | $283 | $499 | $882 | $1,294 |
Source: Ownwell